Online Shopping Essay

6808 Words Jul 29th, 2012 28 Pages
INTRODUCTION

The Electronic commerce or e-Commerce as is known today evolved as businesses (end to end process) started to shift from real time market to digital market. All of the business today as we see is done over the internet and anything which is not there is meant to be wiped off. Ecommerce, the online shopping system has brought down political and physical barriers giving everyone in the world an equal playing ground for their market, everyone can put their products on sale through the e-stores (website dedicated to selling of product, a virtual store).

Online shopping has ushered in a new era in the lives of young college- and office-goers. They end up buying all their necessary and not-so necessary items from online sites.
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In 1990 Tim Berners-Lee a British scientist working at CERN laboratory wrote the first web browser WWW which then changed most research processes and ways of businesses seeing a whole new market to evolve (rather a whole new world “The web world”).

People saw new technologies evolving with new market and then around 1994 a company called Netscape released a browser, enabling anyone to type a name in the Navigator browser and visit a webpage.Soaring stock prices, Pizza Hut taking orders online and a wide variety of products being available online.

Then transactions and business started happening over the web urging every company to have a “.com”. To address security issues Netscape 1.0 introduced SSL encryption, for secure transaction.

United States postal service went online, Acquisitions of majors overtaking smaller ones for technological advancement; the whole environment was so “technologically charged”. This went on till the year 2000 when finally the Bubble (The Dot Com bubble) burst with record high in stock prices.

When money was involved in doing business over the internet “PayPal” was launched and practically has share of 70% till date, it provides facility for online payment.

EFFECT ON BUSINESS MODELS

BRICKS VS ONLINE:
Since the late 1990s,

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